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Calpine Corporation (NYSE:CPN) announced today that it plans to release
third quarter 2012 financial results on Tuesday, November 6, 2012,
before the opening of the New York Stock Exchange. Management will
present the results during an investor call scheduled for 11 a.m.
Eastern Time / 10 a.m. Central Time on November 6. At the same time,
management plans to provide guidance for 2013 financial performance.

A listen-only webcast of the call may be accessed through the Company's
website at www.calpine.com,
or by dialing (888) 895-5271 in the United States or (847) 619-6547
outside the United States. The confirmation code is 33421254. Please
call in 10 to 15 minutes prior to the scheduled start time.

An archived recording of the call will also be made available on the
website and can be accessed by dialing (888) 843-7419 in the United
States or (630) 652-3042 outside the United States and providing
confirmation code 33421254.

About Calpine

Calpine Corporation is the largest independent power producer in the
U.S., with a fleet of 93 power generation plants representing more than
28,000 megawatts of generation capacity. Last year our plants generated
more than 94 million megawatt hours of power for our wholesale customers
in 20 states and Canada. Our 91 operating plants as well as two under
construction consist primarily of natural gas-fired and renewable
geothermal power plants that use advanced technologies to generate power
in a low-carbon and environmentally responsible manner. Our modern,
clean, efficient and cost-effective fleet stands ready to respond to the
increased need for cleaner and more affordable power as the economy
recovers, as new environmental rules are implemented and force older,
dirtier plants to retire or reduce generation, as variable renewable
power generation from wind and solar grows and with it the need for
flexible natural gas generation to assure firm supply to the grid, and
finally, as natural gas becomes economically competitive with coal as a
fuel for power generation. Please visit www.calpine.com
to learn more about why Calpine is a generation ahead - today.

Forward-Looking Information

In addition to historical information, this release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Words such as "believe," "intend,"
"expect," "anticipate," "plan," "may," "will" and similar expressions
identify forward-looking statements. Such statements include, among
others, those concerning expected financial performance and strategic
and operational plans, as well as assumptions, expectations,
predictions, intentions or beliefs about future events. You are
cautioned that any such forward-looking statements are not guarantees of
future performance and that a number of risks and uncertainties could
cause actual results to differ materially from those anticipated in the
forward-looking statements. Please see the risks identified in this
release or in Calpine's reports and registration statements filed with
the Securities and Exchange Commission, including, without limitation,
the risk factors identified in its Annual Report on Form 10-K for the
year ended Dec. 31, 2011. These filings are available by visiting the
Securities and Exchange Commission's website at www.sec.gov
or Calpine's website at www.calpine.com.
Actual results or developments may differ materially from the
expectations expressed or implied in the forward-looking statements, and
Calpine undertakes no obligation to update any such statements.